Core Insights - New APR Energy is deploying over 100MW of mobile gas turbines to a major U.S.-based AI hyperscaler, with installation expected to be completed in 10 days [1][2] - The mobile gas turbine fleet provides a fast and flexible power solution, addressing challenges in securing power from local utilities for data center expansion [2] - The gas turbines are part of a power generation portfolio acquired by Fortress Investment Group, which includes a total of 850MW from the original APR Energy [3] Company Overview - New APR Energy specializes in rapidly deployable mobile power solutions for data centers and utility operators, with over 100 years of combined experience in the sector [5] - Fortress Investment Group manages $49 billion in assets as of September 30, 2024, serving approximately 2,000 institutional clients and private investors globally [6] - Duos Technologies Group operates in three major business lines: Machine Vision/AI Intelligent Technology, Edge Data Center Infrastructure, and Power Solutions [7] Leadership and Future Plans - Chuck Ferry, Chairman and CEO of New APR Energy, expressed excitement about the deployment and indicated ongoing discussions with other data center operators for similar projects [4] - The company aims to leverage its experienced team to achieve immediate success in the power and data center sector [4]

Core Insights - Duos Technologies is set to present at the Microcap Conference 2025, highlighting its strategic initiatives and growth potential in the microcap sector [1] Company Overview - Duos Technologies focuses on providing advanced technology solutions, particularly in the transportation and logistics sectors, aiming to enhance operational efficiency and safety [1] - The company is positioned to leverage its innovative technologies to capture market opportunities and drive revenue growth [1] Industry Context - The microcap sector is characterized by high volatility and potential for significant returns, making it an attractive space for investors seeking growth opportunities [1] - Presenting at the Microcap Conference allows Duos Technologies to engage with potential investors and industry stakeholders, fostering relationships that could lead to future collaborations and investments [1]

Core Insights - Duos Technologies Group, Inc. has been granted a new patent for its obliquevue® system, enhancing railcar inspection through advanced imaging and AI analytics [1][3] - The obliquevue® technology is integrated with Duos' Railcar Inspection Portal (RIP®), which is recognized as an industry standard for real-time railcar analysis [2][3] - In 2024, Duos' imaging systems scanned nearly 10 million railcar images, indicating significant adoption of its innovative solutions [2] Company Developments - The new patent solidifies Duos' position as a leader in intellectual property within the rail industry, with a total of 11 granted patents and 6 pending applications [4] - The obliquevue® system enhances detection of anomalies that traditional systems may miss, ensuring compliance with safety standards set by the Association of American Railroads (AAR) and the Federal Railroad Administration (FRA) [3][4] - Duos is expanding its capabilities to include edge data processing and subscription-based services for customized rail data, further innovating within the rail sector [4]

Core Insights - Duos Technologies Group, Inc. has successfully closed an Asset Management Agreement with Fortress Investment Group, involving a fleet of 30 mobile gas-powered turbines capable of generating 850 megawatts of power, estimated to generate $42 million in revenue over two years and a 5% equity stake in the new venture [1][2][4] Group 1: Partnership and Asset Management - The assets will be managed in partnership with Fortress, providing a fast-track solution to meet urgent energy demands in critical sectors such as data centers [2][3] - The transaction was finalized on December 31, 2024, after fulfilling customary closing conditions and regulatory approvals [2] Group 2: Strategic Focus and Market Demand - Duos Energy Corporation, a subsidiary of Duos Technologies, will oversee the management and deployment of the turbine fleet to address growing energy demands across various sectors [3][5] - The company is actively engaging with U.S.-based data center developers and international energy projects for immediate deployment of the turbines, emphasizing its mission to deliver agile and scalable energy solutions [5] Group 3: Company Background - Duos Energy Corporation specializes in developing, owning, and operating sustainable energy projects, focusing on clean-burning natural gas generation and rapid deployment of off-grid power plants [6] - Fortress Investment Group manages $49 billion in assets as of September 30, 2024, serving approximately 2,000 institutional clients and private investors globally [7]

Core Insights - Duos Technologies Group, Inc. is partnering with Pampa Economic Development Corporation and Pampa Energy Center to develop high-density Data Center Development Parks in Pampa, Texas, utilizing up to 500MW of natural gas self-generation and 200MW of wind turbine generation [1][2][3] Company Overview - Duos Edge AI, a subsidiary of Duos Technologies, specializes in deploying adaptive and scalable data center solutions, aiming to support four 50MW high-density data centers in Pampa [2][9] - Duos Energy Corporation focuses on sustainable energy projects, providing rapid deployment of dedicated off-grid power plants, and has signed an agreement to manage 850MW of mobile gas turbines [4][10] Economic Impact - The project is expected to transform Pampa's infrastructure, create jobs, and drive technological and economic growth, positioning Pampa as a leader in the High-Density Data Center landscape [1][3][7] - The partnership is seen as a significant step towards diversifying Pampa's commercial and industrial base, leveraging its location in the heart of the wind energy sector for economic growth [7][8] Project Timeline - The first 50MW high-density data center is planned to be operational by the end of 2025, with the project covering over 500 acres [2][4]

Revenue Growth - Total revenue for Q3 2024 increased 112% to $3.24 million compared to $1.53 million in Q3 2023, with approximately $1.685 million from technology systems and $1.55 million from recurring services and consulting[6] - Total revenues for the three months ended September 30, 2024, increased to $3,238,910, a 111.1% increase from $1,530,923 in the same period of 2023[29] - Technology systems revenue rose to $1,686,456, up 138% from $705,849 year-over-year, while services and consulting revenue increased to $1,552,454, up 88% from $825,074[29] Profitability and Loss - Gross margin for Q3 2024 increased 306% to $919,000 compared to $226,000 in Q3 2023, primarily due to a change order related to high-speed Railcar Inspection Portals[8] - The net loss for the three months ended September 30, 2024, was $(1,401,663), an improvement from $(2,947,736) in the same period of 2023[29] - Net loss for Q3 2024 totaled $1.40 million, a 53% decrease from a net loss of $2.95 million in Q3 2023, driven by increased revenues and reduced operating costs[11] Operating Expenses - Operating expenses for Q3 2024 decreased 11% to $2.84 million compared to $3.20 million in Q3 2023, attributed to reductions in development and administrative costs[9] - Total operating expenses decreased to $2,839,379 for the three months ended September 30, 2024, down from $3,197,565 in the same period of 2023, a reduction of 11.2%[29] Cash and Assets - Cash and cash equivalents at September 30, 2024, totaled $0.65 million, down from $2.44 million at December 31, 2023, with over $2.21 million in receivables and contract assets[12] - Total assets increased to $22,024,867 as of September 30, 2024, compared to $12,842,285 at the end of 2023, reflecting growth in the company's asset base[32] - Cash and cash equivalents decreased to $613,594 as of September 30, 2024, down from $2,441,842 at the end of 2023[32] Liabilities - Total liabilities rose to $19,512,398 as of September 30, 2024, compared to $7,475,771 at the end of 2023, indicating increased financial obligations[32] - Accounts payable increased significantly to $1,131,552 from a negative $1,670,625 in the previous year[35] Future Outlook - The company anticipates improved operating results over the next 12 months due to new initiatives and market opportunities[21] - The company expects to provide further updates on growth, particularly in 2025 and beyond, as new businesses and market opportunities are established[22] Other Financial Metrics - The company reported a basic and diluted net loss per share of $(0.18) for the three months ended September 30, 2024, compared to $(0.41) in the same period of 2023[29] - Net loss for the nine months ended September 30, 2024, was $7,358,143, compared to a net loss of $8,080,819 for the same period in 2023, indicating an improvement[35] - Net cash used in operating activities increased to $6,200,147 for the nine months ended September 30, 2024, from $5,637,072 in the prior year[35] - Net cash used in investing activities was $1,555,544, up from $898,435 in the same period last year[35] - Net cash provided by financing activities was $5,959,962, a decrease from $8,681,331 in the previous year[35] - The company reported a depreciation and amortization adjustment of $1,472,965 for the nine months ended September 30, 2024, compared to $393,057 in the prior year[35] - The company issued $2,995,002 in preferred stock during the period, compared to $9,000,000 in the previous year[35] - The company reported a gain on settlement of warrant liabilities amounting to $379,626[35] - The company had a significant increase in inventory, with a change of $197,777 compared to a decrease of $97,552 in the previous year[35] Railcar Scanning - The company performed over 2.3 million railcar scans across 13 portals, scanning more than 379,000 unique railcars, representing approximately 24% of the total freight car population in North America[4]

Financial Data and Key Metrics Changes - Total revenue for Q3 2024 increased 112% to $3.24 million compared to $1.53 million in Q3 2023, driven by a $1.4 million contract modification for Railcar Inspection Portals [14][19] - Gross margin for Q3 2024 increased 306% to $919,000 compared to $226,000 in Q3 2023, primarily due to high revenues from Railcar Inspection Portals [17] - Net loss for Q3 2024 totaled $1.4 million, a 53% reduction from a net loss of $2.95 million in Q3 2023, attributed to increased revenues and reduced operating costs [20][21] Business Line Data and Key Metrics Changes - Duos Edge AI expanded with three new Edge Data Centers, totaling six ready for deployment, with significant commercial demand for colocation services [8][34] - Railcar Inspection Portal business is progressing with ongoing installations and new agreements, including a partnership with a Class I railroad customer [9][37] - Recurring services and consulting revenue increased by 88% quarter-over-quarter, driven by new AI and subscription customers [14] Market Data and Key Metrics Changes - The company has over 35 power opportunities, primarily from data center developers, indicating strong demand in the power sector [31] - At the end of Q3, the company's backlog exceeded $18.8 million, with $10 million related to data access for a new subscription business [23][24] Company Strategy and Development Direction - The company aims to diversify its business and accelerate profitability, with a focus on the power sector and Edge Data Centers [6][32] - A strategic partnership with Fortress Investment Group was formed to manage 850 megawatts of power generation assets, expected to generate $42 million in revenue over two years [7][32] - The company plans to deploy at least 15 Edge Data Centers by the end of 2025, with potential partnerships with hyperscalers to accelerate deployment [35][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability in 2025 due to new initiatives and expected growth in various business lines [32][25] - The operating environment is characterized by high demand for power solutions, particularly in the data center sector, with challenges related to equipment availability [56][57] Other Important Information - The company implemented a 5% reduction in staff in early Q3 2024 to manage costs effectively [18] - The balance sheet remains stable, with approximately $646,000 in cash and over $2.21 million in receivables as of September 30, 2024 [22] Q&A Session Summary Question: Did you say that the assets you will be deploying and managing are the same ones you used to work with at APR? - Yes, the assets are the same, and the management team is very familiar with them [44] Question: Is the $42 million revenue over two years guaranteed? - The revenues are estimated based on a business plan developed with Fortress Investment Group and are not guaranteed [46] Question: Who are your competitors in the power and data center business? - In the Edge Data Center business, there are few direct competitors currently, while the power sector is more competitive with larger OEMs [55][56] Question: What is the expected subscription revenue from the Rail business in 2025? - The forecast for subscription revenue from the railcar subscription business is about $2 million to $3 million [81][82]

JACKSONVILLE, Fla., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), is pleased to announce that its operating subsidiary Duos Energy Corporation has signed a two-year Asset Management Agreement (“AMA”) to deploy and operate a fleet of mobile gas turbines and balance-of-plant inventory (“the portfolio” or “the assets”) that has a combined generation capacity of 850 megawatts. The AMA has been signed with affiliates of Fortress Investment Group (“Fortr ...

Duos Technologies Group, Inc. (DUOT) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4%. A quarter ago, it was expected that this company would post a loss of $0.31 per share when it actually produced a loss of $0.43, delivering a surprise of -38.71%.Over the last four quarters, the company h ...

JACKSONVILLE, Fla., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Duos Technologies Group, Inc. (“Duos” or the “Company”) (Nasdaq: DUOT), reported financial results for the third quarter (“Q3 2024”) ended September 30, 2024. Third Quarter 2024 and Recent Operational Highlights Delivered and installed Edge Data Center for Amtrak at the Secaucus location. Construction work continues at the site. Received more than $1.4 million in contract modifications at Amtrak including renewal of the subscription utilizing three port ...